Stop Cash Shrink

A handful of small Louisiana financial institutions are quietly moving forward with providing banking services for the state’s medical marijuana industry, tentatively relieving an uncertainty that dispensaries and growers have faced throughout the U.S.

The institutions’ decisions come despite compliance headaches involved with banking a business sector that stands at odds with federal law.

There also are newfound uncertainties brought on by the Trump administration’s Department of Justice. It has taken a starkly different tack toward the drug than the Obama administration, though President Donald Trump last week appeared to be leaning toward allowing states to make their own decisions on marijuana issues.